GLOBE INTERNATIONAL LIMITED — Capital/Financing Update 2021

Jun 9, 2021

COMPANY ANNOUNCEMENT GLOBE INTERNATIONAL LIMITED TRADING UPDATE

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MELBOURNE, 10 June 2021: Globe International Limited (the Company), designer, producer and distributor in the board sports, street fashion, outdoor and workwear markets, is providing this update to the market regarding trading conditions since it last the addressed the market at the time of its half year results announcement on 25 February 2021.

At that time, the Company advised that sales growth in the second half of the year was expected to continue to be robust, subject to the reliability of the supply of goods, predominantly from China. The Company also advised that, subject to the reliable supply of goods, profitability would remain strong but was expected to be lower in the second half of the financial year, compared to the first half-year, due to rising product costs and investments to support and fuel sales growth.

As the end of the financial year approaches, the reliable supply of incoming goods continues to be a challenge, with the latest issue being significant delays in key global logistics routes. However, the Company has so far been able to overcome these COVID related sourcing and logistics challenges, resulting in a strong performance for the half-year which is ahead of expectations. The Company can confirm that sales in the second half of the year will be approaching double the same period last year. As a result, full year sales are expected to be in excess of $250 million, compared to sales of $152.8 million in the prior financial year. Due to the strength in top-line growth in the second half of the financial year, profitability is also ahead of expectations. The Company now expects the full year EBIT percentage return on net sales to be in the mid-high teens. This compares to EBIT returns of 4.8% in the prior financial year, and 16.8% in the first half of the current financial year.

The Company plans to announce its full year results in mid-August 2021, at which time further details about the results will be provided.

Authorised for release by the Board of Globe International Limited.

Investors, Media and Analysts: Jessica Moelands Chief Financial Officer 1 Fennell Street, Port Melbourne, 3207 +61 (3) 8534 9932 Jessica.m@globebrand.com